Reference no: EM132453398

Problem - Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price, and other selling expense of $65,000. Administrative expense totaled $53,800.

Refer to the list below for the exact wording of a label or an amount description within your income statement.

- Labels

- Add

- For the Month of June

- Less

- Selling expenses

- Amount Descriptions

- Administrative expenses

- Commissions

- Cost of goods manufactured

- Cost of goods sold

- Fixed selling expenses

- Gross margin

- Operating income

- Operating loss

- Purchases

- Sales revenue

- Total selling expenses

Required - Prepare an income statement for Slapshot for the month of June. Refer to the list of Labels and Amount Descriptions for the exact wording of text within your income statement. Be sure to complete the statement heading.